Friday, 17 August 2018

Isabell Witt' s stories

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  • LBO loans explore new pricing

    Loans | 04 November 2011

    Bankers are starting to consider underwriting new European buyout loans again, but on substantially improved terms, after making heavy losses on the deep discounts that were required to clear deals caught in the market after August’s repricing.

  • OIDs drop on LBOs

    Loans | 14 October 2011

    Investors are demanding original issue discounts in the low 90% area on European leveraged buyout loans as yield expectations rise.

  • Blackstone.JPG

    Funds’ growth to transform loans

    Top News | 14 October 2011

    Consolidation of credit funds in Europe is set to continue as funds seek to grow in a move that should transform the leveraged loan market by attracting new liquidity, fund managers said. GSO Capital Partners, part of Blackstone Group, this month announced the acquisition of European leveraged loan manager Harbourmaster, creating one of the largest leveraged loan investors in Europe with €11.5bn of assets under management.

  • Logo of fund manager BlueBay

    BlueBay launches private lending business

    People & Markets | 07 October 2011

    Fund manager BlueBay has launched a private lending business targeting small and medium sized enterprises (SMEs) in Europe amid a shortfall of lending from banks.

  • Second time around for restructurings

    Top News | 07 October 2011

    The decision by European banks in 2009 and 2010 to set aside insufficient funds to write down debt of distressed borrowers is creating a wave of second-time restructurings.

  • LBO market tackles overhang

    Loans | 30 September 2011

    Banks are facing the prospect of having to hang on to European buyout loans for longer than previously expected as challenging conditions in the leveraged loan market and a lack of direction on pricing are making it difficult to attract investors.  

  • Oriel buys Versatus

    People & Markets | 23 September 2011

    UK stockbroking and corporate advisory firm Oriel Securities has acquired debt advisory firm Versatus, which was founded in 2009 by leveraged finance bankers Michael Berry and Jacco Brouwer. Berry and Brouwer will remain head of debt advisory and partner at Versatus, Oriel said in a statement on Monday.

  • Lack of dollars takes effect

    Top News | 16 September 2011

    Evidence of European banks’ higher dollar funding costs appeared for the first time in Europe’s leveraged loan market last week after making headlines in EMEA investment grade lending in the past month. The dollar portion of a loan backing a potential leveraged buyout of Thomson Reuters’ trade and risk management software business, Kondor, will pay a premium to the euro tranche, bankers said last week. Thomson Reuters owns IFR.

  • LBOs

    Fears about LBO refi wall return

    Top News | 09 September 2011

    Buyout companies face an increasingly difficult task refinancing the €181bn of European leveraged loans coming due by 2015. The combination of volatility due to sovereign debt problems and the prospect of a Europe-wide economic slowdown has significantly boosted refinancing risk by drastically reducing appetite for leveraged loans and high-yield bonds.

  • Polkomtel bucks the trend

    Loans | 02 September 2011

    The senior secured loan facility backing Zygmunt Solorz-Zak’s €3.4bn buyout of mobile phone firm Polkomtel closed successfully last week, at a time when other leveraged deals in Europe are currently struggling to get done, despite increases on interest margins.